WASHINGTON EDITION
HOW TO BE A
GREAT AGENT EVERY DAY
DON’T WORRY, BE HAPPY! COMMUNICATE YOUR WAY TO HIGHER SALES WITH DISC? DO YOU ADD CONSISTENT VALUE FOR YOUR BUSINESS AND FOR YOUR CLIENTS?
COVER STORY
PAMELA BELLAH A POWERFUL MARKETING TOOL DEFER TAXES WHEN SELLING A RESIDENCE
Executive Publisher Jessica S. Fisher Assistant Publisher Kathryn Meksavanh Writers Stacy Brecht Lara Chapman Ashley Davis Melanie Figueroa Rachel Fisher Desi Jedeiken Becca Lane Tina Rubin Cameron Sullivan Contributors John Boe Bob Corcoran Carla Cross Barry Eisen Kendra Lee Bubba Mills Walter Sanford Verl Workman Dirk Zeller Graphic Design Len Leake Digital Production Michael Barian Accounting Shirley Black Samantha Smith Phone 888-461-3930 Fax 310-751-7068 mag@topagentmagazine.com www.topagentmagazine.com No portion of this issue may be reproduced in any manner whatsoever without prior con sent of the publisher. Top Agent Magazine is published by Feature Publications GA, Inc. Although precautions are take to ensure the accuracy of published materials, Top Agent Magazine cannot be held responsible for opinions expressed or facts supplied by its authors. To subscribe or change address, send inquiry to mag@topagentmagazine.com. Published in the U.S. 2
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PAMELA BELLAH
CONTENTS DO YOU ADD CONSISTENT VALUE FOR YOUR BUSINESS AND FOR YOUR CLIENTS? by Walter Sanford....................................... 4
A POWERFUL MARKETING TOOL - DEFER TAXES WHEN SELLING A RESIDENCE by David Fisher.......................................... 13
HOW TO BE A GREAT AGENT EVERY DAY by Bob Corcoran........................................ 18
DON’T WORRY, BE HAPPY! by Barry Eisen............................................ 20
COMMUNICATE YOUR WAY TO HIGHER SALES WITH DISC? by Bubba Mills........................................... 25
LIVING ON COMMISSION by Linda Brakeall....................................... 28 Top Agent Magazine
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Do You Add Consistent Value for Your Business and for Your Clients? By Walter Sanford
We recently received a question from some of our favorite coaching clients. The Premier Team is lighting up the upper end, downtown, and historical St. Louis real estate markets. As coaching clients, they are challenging for me because they demand new value and service for their clients each week. In fact, Chris and Lisa know that to dominate an industry they need to have tools that the competition does not. They require tools that not only make the job easier, but also more profitable for their clients. Here is the result from a recent request from which we created a letter handout for the listing presentation and for advertisement in other media: The Premier Team Helps Clients Achieve Goals through Pre-Launch Inspections We have found that all buyers should have their purchase inspected. When we represent our sellers, the negotiations start with offers and potential counter offers. Traditionally, the buyer obtains and pays for an inspection of the property. The negotiations start again. 4
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Rightfully, the buyer wants any challenges to be addressed; the seller feels they had lived with the challenges, sold the property with the challenges, and do not want to repair if they have no chance to enjoy them. It’s a difficult negotiation and can sometimes leave clients unhappy. As we do many times, we have devised a system to help all involved parties know what they are buying and selling while also saving our client’s time, trouble, and money in the mix. When we custom-design a marketing plan to achieve our seller’s goals and receive a commitment to market the property, we then offer our seller an opportunity to have the property inspected by our team inspector. The inspector will review all systems of the home and write a thorough report on the findings. We then discuss the findings with the seller and place any challenges in different categories. There is the “must fix now” category that deals with safety of the occupants or the property. There is the sub-standard category that is below the expectations a buyer would expect of a property for the area and price range. Lastly, there is the upgrade category for items which buyers would like to see done. By having the report and determining what categories, we can offer many opportunities to our seller clients: 1 We eliminate the “rush into a repair” syndrome by having the repair report early and without the input of a buyer waiting for an answer to complete the next step of their purchase. 2 We have time to contact numerous vendors who will compete for the best price. 3 We have time to make decisions on the condition vs. price, which is much better determined before the buyer has made a successful offer. 4 We know early if there are any big ticket items that would prevent a sale from a buyer not wanting the property or the seller not being able to afford the repair. 5 We can choose the mode of repair before a buyer has a stake in the decision. There are many ways to repair rather than replace. Replace is usually how a buyer wants the challenge remedied. Top Agent Magazine
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6 We have time to get government or utilities involved if needed. 7 A seller’s net proceeds or “net sheet” can be professionally prepared. 8 We might receive a higher offer when a potential buyer is presented an inspection with all the repair receipts attached. 9 The one to two week wait is eliminated by having a report done before an offer rather than waiting for it after the offer. 10 Since we are paying for the report, we get to choose the inspector. Finding inspectors without the drama gene is important. There are many other reasons to be knowledgeable about the property, prior to negotiations. We have arranged a team of inspectors who have agreed to wait to be paid for their inspection and report until the seller receives their proceeds from sale. This cures the cash flow problem. We, at Premier Real Estate, believe that this is not only an outstanding investment that pays many dividends, but it is also the most professional way to handle a sale including all possible disclosures to all potential parties. Should you have any questions, please feel free to discuss. We have much experience in this little utilized system to increase our seller’s net proceeds. Many people have a coach who has not been through the ups and downs as Walter Sanford. Many coaches do not have the same achievements as Walter. He has millions in cash flow equity that came from his real estate business, and he developed systems that can be implemented without any special abilities. We currently have a few availabilities in our coaching program, and this year’s schedule has some availability for seminars as well. Copyright©, 2016 Walter Sanford. All rights reserved.
Walter Sanford has been designing and implementing real estate systems for 30 years. One of the most successful REALTORS® and now wealthy from his systems, Sanford teaches his systems and strategies through his products, seminars, and personal coaching producing the best results in the industry. Do what works, do what is proven. Hire Walter Sanford. Call our office at 800.792.5837, email walter@waltersanford.com, or chat with us online at www.waltersanford.com. 6
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PAMELA BELLAH
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PAMELA BELLAH Exceptional Real Estate Sales ….
dilapidated. Navigating 18 differ ent construction projects to get the home livable revealed abilities in me which I didn’t know I had. I enjoy the significant results I can accomplish with these skills and sharing these skills for the benefit of others.”
Pamela Bellah’s impressive abilities in real estate negotiations were revealed after she purchased her first home. “It was a foreclosure property and the seller’s agent let me negotiate the price directly with the lien holders. The home was listed for $116,000 and I purchased it for With her attention to detail and $40,000. I had to get a construc commitment to providing superior tion loan because the home was so service, Pamela Bellah has since C 8 opyright Top Agent Magazine
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become a top producing real estate service. “What I bring is an endeav agent in the Seattle and surrounding oring heart. I set the bar high for areas, closing record breaking sales. quality of service and what I’m willing to go after for a seller,” she “I helped one seller get a 47% return explains. on his investment, 21 months after he purchased it,” she explains. When Today, Pamela works with Realog other agents and appraisers were ics Sotheby’s International Realty, quoting a much lower listing price, and has received many accolades for she knew the property’s true market her exceptional work. She has the value potential. All of her buyers highly coveted Certified Residential can expect the same dedication to Specialist designation, which is Top Agent Magazine
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awarded to only 3% of REALTORS® nationwide, for advanced training and substantial professional achieve ment in residential real estate sales. Locally, Pamela has been awarded the Seattle Magazine’s 5 Star Award for Customer Satisfaction in 2014, 2015 and 2016. Her sharp nego tiation skills, ability to problem solve and goaloriented approach have helped her grow her skills to unrivaled levels since starting her career in 2001. Copyright Top Agent Magazine 10
Pamela helps sellers all across Washington state, and buyers locally. Pamela brings additional credentials as a Certified Member of the Institute of Luxury Home Marketing. This training and membership provides her additional resources in accessing high net worth prospects for her sellers. Pamela’s has partnered with the award winning Realogics Sotheby’s International Realty, enabling her Top Agent Magazine
access to what she needs to gain top dollar for her clients. She utilizes print media, online exposure, her firm’s local exclusive marketing partnerships, as well as the network of Sotheby’s offices worldwide displaying qualified listings in each of their 861 offices. Pamela has documented many top local sales which she shares with her client candidates in establishing credibility. “I’ve always believed business Top Agent Magazine
should be earned by bringing your best skills, education and experi ence to a client – it shouldn’t be a partnership based simply upon knowing someone, the stakes are too high”. Pamela’s clients express amazement by her ability to go above and beyond their expectations. They want everyone to know about the great experience they had with her. Copyright Top Agent Magazine 11
One recent seller said, “I had an amazing experience with Pamela Bellah in the recent selling of my condo in West Seattle. She got the best price per square foot for a nonwaterfront, nonwaterview unit beating out 310 other sales in West Seattle! She promised me that she would fight for the best deal for me, and she exceeded my expectations. I would highly recommend using her services.” Another seller said, “Even though we’ve never met face to face, I put my trust and care into her skills when I needed her most to sell an Admiral condo. Not only did Pamela come with wonderful references, she also works for a reputable professional real estate company that was able to market my condo using all pos sible avenues. I knew she had other bigger listings, but she still showed the care and dedication to sell my condo as any other property. Pamela is pleasant and hardworking and I’d highly recommend her to anyone.”
Agent Magazine. Passionate about this industry and her career, she can’t imagine herself anywhere else. “I feel so grateful to have found a career field which matches my skills and interests and allows me to help people. My client’s gratitude and support mean the world to me and I love having the aptitude and oppor It is obvious why Pamela Bellah has tunity to meet their needs in such a been nominated to appear in Top significant and meaningful way.” For more information about Pamela Bellah of Realogics Sotheby’s International Realty in Seattle, please email Pamela.Bellah@yahoo.com, call (206) 619-2175 or visit www.SellingInSeattle.com Copyright Top Agent Magazine 12
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A Powerful Marketing Tool Defer Taxes When Selling A Residence
By David Fisher
Winston Churchill once said, “There is no such thing as a good tax.” Of course, he also said, “I like pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals” so Winston was a pretty sharp guy. For purposes of this article, however I will focus more on taxes and less on pigs although there are probably more similarities than differences between the two. Pork is more than just the other white meat. Top Agent Magazine
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I don’t mind paying my fair share of taxes but I want my taxes to go to things like fixing infrastructure, educating poor kids or feeding the hungry. However, it seems that much of our tax dollars go to pork projects to help members of Congress get reelected so that’s why I have become more focused over the years in my practice in helping my clients defer taxes when selling real estate and other highly appreciated assets. Most of us are familiar with what is called a 1031 exchange. A 1031 exchange is a great opportunity to defer capital gains taxes,state taxes and depreciation recapture when selling an investment property and by following IRC 1031, the seller can purchase another investment property of equal or greater value and defer the previous mentioned taxes to some point in the future. It’s a great opportunity for the seller and it’s a great opportunity for the real estate broker to buy additional property for their clients. It’s a win-win. But what if the property being sold is a primary residence or a property that does not qualify for a 1031 exchange. We all know that a primary residence might be the largest investment that many will make and hopefully the primary residence will appreciate in value over the years. Even though there are various exemptions and exclusions for capital gains when selling a primary residence,it’s quite possible that there could be a sizable capital gains and state tax liability once the residence is sold. For example, I worked with someone recently who bought a home wisely and now, a couple of decades later, is selling the property and after crunching the numbers is facing a $4 million capital gain. The property is in Texas so the seller is looking at a capital gains tax of $800,000 (4 million x 20%), no state income tax in Texas but add that in for the 43 states that have a state tax and also the CPA said that there might also be the alternative minimum tax as well but he wouldn’t be sure until crunching all of the numbers. If so, that’s additional income tax due. So if 14
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the property sold was in California, you can add about another $400,000 in state taxes. If the property was in Colorado, you could add an additional $200,000 in state taxes and so on. But take the taxes due to the next level. Let’s say that this individual paid $1 million in taxes, he is 60 years of age and will live for another 20 years. If he could defer that $1 million in taxes and invest that amount wisely, that could be $3 million or more that could be passed on to his heirs at his passing. Remember that this is only the taxes deferred and not the rest of the sales proceeds. So the question is this... Can a property owner defer taxes when selling a high end residence or luxury property that does not qualify for IRC 1031. The answer is YES. It is absolutely possible. Having said that, there are a number of moving parts to accomplish this tax deferral strategy and the seller’s CPA and /or attorney would have to be involved but yes, it’s possible.
You opened your monthly statement and you couldn’t believe your eyes. There it was... $3 million in your account. You made it. Imagine if you will the day you started selling real estate and you decided to work as hard as you could and put as much money away into your retirement plan as is possible. You would make whatever sacrifices needed in order to make as large a contribution to your retirement plan as allowed and when you had $3 million in your account, you were going to retire and do all the things that you choose not to do until you retired and had enough money to enjoy life. So you worked more hours than anyone in the office. You talked to potential clients that no one would talk to. You kept your car a couple of extra years before buying another one and you took shorter vacations rather than longer more expensive ones so you could make larger contributions into your retirement plan. Sound familiar? And this went on for 3 decades until one day, it happened! Top Agent Magazine
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You opened your monthly statement and you couldn’t believe your eyes. There it was... $3 million in your account. You made it. You could now retire and do all the things you put off until now. You could not contain your excitement as you dialed your CPA with the great news. Your CPA was thrilled at your good fortune and mentioned to you that he had a tax form you needed to sign and then you could begin your well deserved retirement. So he says to you...I need you to sign and date the form and then write a check made payable to the US Treasury for $900,000.00 and as soon as the check clears, you retirement can begin. You feel like you were just hit by a truck. You try to speak but nothing is coming out of your mouth. Your CPA explains that a couple of years ago, Congress passed a tax law that said that before a taxpayer can retire, they must pay a 30% tax on the lump sum amount in their retirement plan. So you realize that you actually have $2.1 million in your account and probably need another 10 years of working to net the $3 million you want to retire. You’re devastated. Well, there’s good news and there’s bad news. The good news is that there isn’t a 30% tax on retirement plans for now. I made that up. The bad news is that your sellers could be facing as much as that 30% tax on the capital gains they have earned when you sell their property. You don’t want to pay that tax so why would you let your clients pay that tax now that you know it might be able to be deferred indefinitely. But imagine the powerful tool you now have in your briefcase. You’re talking to a prospect who is selling a high end property in LA, Aspen, Miami, New York, Chicago or any other location in the country and you want to list that great high end residence. The problem is that as good as you are, there are 3 other talented brokers that are also competing for the listing. Those 3 make 16
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outstanding listing presentations and the prospect is absolutely impressed with all of them. Now it’s your turn to hit the ball out of the park and you make Babe Ruth proud. As you’re finishing, you ask the prospect one final question. “Have you considered the potential capital gains tax liability you will have when you sell.” The prospect responds that his CPA informed him that there will be a rather large tax bill to pay and he just has to take a deep breath and pay it. You then smile and ask him if he knew that he might be able to defer those taxes. He looks at you a bit stunned and asks you to explain and you do. Even if he decides to pay the tax, you have set yourself apart from the others and I can tell you that we have a number of success stories where the agent took the time to show concern for the prospect after the commission check would be paid and got the listing. Again, this tax deferral strategy may not be for everyone but if it helps you make 1 sale a year, that’s a great opportunity for all involved. As I mentioned earlier, there are a number of moving parts to this strategy but a short phone conversation probably could give us insight to the viability of this strategy in a specific set of circumstances.. Now go sell a great property, defer the capital gains and state taxes and invite me to dinner. But please don’t serve pork. Churchill probably wouldn’t approve. Best wishes until the next time we visit. Copyright©, 2015 David Fisher. All rights reserved. David Fisher is the founding partner at Creative Real Estate Strategies. His firm specializes in helping brokers all over the country buy and sell real estate for their clients in a tax efficient manner. He can be reached at david@cresknowsrealestate.com. His cell is 713-702-6401 and there is more information at www.cresknowsrealestate.com Top Agent Magazine
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How to Be a Great Agent Every Day by Bob Corcoran
“My goal in sailing isn’t to be brilliant or flashy in individual races, just to be consistent over the long run.”—Dennis Conner Dennis Conner, the great yachtsman, came be known as Mr. America’s Cup. But he could have just as easily been named Mr. Consistent—he won 28 world championships. Now, think closer to home. Think of a top producing agent or broker you know. If they’re real top producers they’re not known as one-hit wonders. I bet they bring in the big numbers every month, every quarter, every year, and year after year. Real winners are often consistent winners. The champs at the Olympic games in Sochi had also won their country’s top prizes and many other accolades and honors leading up to their gold medals. 18
What is it that keeps those top producing winners on the podium of success in real estate? Over the two decades I’ve been coaching and developing top producers, I’ve noticed four recurring characteristics. Here they are for you to examine, and I hope, adopt for your own business: 1. Quitting isn’t in their vocabulary. Every Olympic medal winner has this in common: not one of them quit. That doesn’t mean they didn’t face difficulties. My guess is they hit troubles that would make most of us wince—the bone-breaking injuries and the soul-crushing setbacks. But they kept going. Sure, if you’re having a rough day or week or even month, take time to gather your wits. But then get back on the battlefield. 2. They analyze their wins and losses. Win or lose, consistent champs take time to dissect the nitty gritty of what went right and wrong—and most importantly— Top Agent Magazine
Look who’s on your side and decide if it’s time to get someone new to help you reach your new heights. how they can improve. This selfexamination is a must. The next time you land a huge listing, analyze it. How did the customer see you as different from other agents? How, specifically, did you please the customer? And, of course, where do you need to improve? 3. They picture their goal with crystal clarity. Remember this: if the goal is clear, it’s easier to focus on. I can’t tell you how many agents I’ve met with a focus problem. They lose their focus more than they lose their car keys. Why? Fear. They’re afraid of setting a goal. Yet, without a goal, they go nowhere. You can say a lot of things about those folks with the gold medals hanging from their necks, but one thing you can’t say is they didn’t know what they were after. Get your goal in front of you and never lose focus on it. And always clearly understand your customers’ needs and then exceed them. Keep finding ways to better serve the unmet customer needs. 4. They’re surrounded by the right Top Agent Magazine
people. Ever notice when champions are interviewed after a win, whether it’s a gold medal, an Academy Award or even a spelling bee, they always have people to thank—a parent, a sibling, a coach or a mentor. Someone is always behind them. And without fail, they say they couldn’t have done it without those people. Look who’s on your side and decide if it’s time to get someone new to help you reach your new heights. Bob Corcoran is CEO of Corcoran Consulting and Coaching Inc. (www.corcoran coaching.com/programs, 800-957-8353), an international consulting and coaching company that specializes in performance coaching and the implementation of sound business systems into Real Estate Companies, Mortgage Companies and Small Businesses. Corcoran Consulting & Coaching has a Life Coaching Division called Genesis; which is based on the core fundamentals of Og Mandino’s Performance Coaching and Intentional Creation Coaching. Corcoran Consulting is headed by Bob Corcoran; a national recognized leader, speaker and author. To find out more about Corcoran Consulting & Coaching, call 1-800-957-8353 or visit us at www.CorcoranCoaching.com/aboutcorcoran-coaching. 19
Don’t Worry, Be Happy! – Bobby McFerrin By Barry Eisen
A gizzillion years ago I had the honor and privilege of spending time with Norman Vincent Peale, Methodist minister, author of The Power of Positive Thinking, controversial thinker and one of the best motivational speakers I’ve ever heard. He told of a chance encounter with one of his parishioners, George, on a street in New York City. George was despondent. When Dr. Peale asked him about his state of mind, George let go with a tirade of confessions of being so overwhelmed with problems and worries that he couldn’t sleep at night and couldn’t think straight by day. “I’m a depressed mess,” George sadly confided. 20
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the end of TODAY. Preparing for tomorrow at the end of today helps you rest well. The mind doesn’t have to spend the night worrying “Remember this and Don’t forget that!” You wake up knowing how to start and where you’re going! Be sure to prioritize your list with an A, B, or C. Let go of yesterday and focus on your To-Do-List of today. If it was important from yesterday and “George,” Dr. Peale said, waiving his incomplete, it’ll be on today’s list. arm slowly over the horizon, “here Do things, not because you have to, are thousands of souls who haven’t but because you get to. got a worry among them. If death means you have no worries, to worry • Keep your mind busy with the must mean you’re alive! And if you highest priority in the moment. Inhave lots of worries, how much more stead of figuring out why you are the alive you must be!” It’s a matter of way you are, stay on task knowing that you can only do one thing at a perspective.” time. Consider the satisfaction you Worry is something we choose that will feel when that one task is acis not of the world, but rather, in complished and then turn to your how we think. It’s a distraction that next. Of course interruptions will takes us away from confronting our happen. When they do, ask yourself: Is the interruption or is the task at realities. hand of HIGHER VALUE for THIS Here are nine potentially life chang- moment? (Most therapists don’t try ing ideas. Some you maybe doing, to figure out why a person is worrysome you have done in the past, ing; but will prescribe that a patient and for some may these serve as a do something or learn something on reminder to get back on track. If any which to focus positively. Learning/ would serve you, start now. stimulating the mind can get a person out of their ego-centric predicament.) • Make your list for tomorrow at Multi-tasking has been proven not to
Dr. Peale asked George if he could spare some time to meet a large group of people who might have answers to George’s worries, since this was truly a worry free group. George, at his wits end grunted “sure.” After a long car ride to near the tip of Long Island, Dr. Peale had the taxicab stop in the middle of a large cemetery and the two men got out.
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likely to show you their good if they feel that availability from you. Don’t listen to T.V. or read internet news be• Allow yourself to risk. Enter en- fore you go to sleep at night. Count the ough. A friend of Nan’s had won the things for which you can be grateful grand prize on the American Chop- (full of greatness!) and sleep better. per contest. When asked how he won, he laughed and said, “When the con- • Smile more and hold eye contact test was announced, I ENTERED.” with others. Create a positive posYou’ve got to allow yourself to enter ture. Your positive physiology will the game and know that you aren’t be reflected by others and even if going to win every time, but you’re a you’re faking it, your forced smile, winner by playing and playing your eye contact and positive posture will best. Enter enough! If worrying about feel more natural and comfortable. losing stops you from entering, it Little shifts. guarantees a loss. Enter enough and you’ll find those places where you • Delegate responsibilities. Do what win. And as you enter enough, your you can, but let go of things before skills get better. Make up for lack of you become overwhelmed. If someskills, not by thinking about the lack, one else can do a task only 80% of but with enough activity. Show up... the way you would do it, but it gives you 100% of that time for another most don’t. taks which only YOU can do...you • Focus on what is right, the good, are 180% productive with that time. rather than on what is wrong. So Life is too short. What parts are really much of the media focuses on the worth your attention? isolated disaster story. Happy stories don’t sell. Media stories appeal to • Exercise/eat well/sleep well. Exthe lowest common denominator of ercise is a great idea even though our interests. Don’t go for the easy you may feel stressed about time and “take” or opinion of others. Consider other preoccupations. The endorthe possibilities. Have you ever had phins that reduce feelings of worry, your good intentions misread by fear, adrenaline production, also others? Allow the benefit of doubt by promote a more relaxed mind and seeing good in others. They are more body. As we grow older it’s inactivity be the best way to go. Slow down and focus.
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On the top of a full size piece of paper or, if you prefer, a digital memo app, write or type the words WORRY LIST. When a worry comes to mind, instead of letting it interrupt what you are doing, take out this list and jot down/type the worry. Keep doing this for one whole week. On Friday afternoon between the hours of 4:005:00 PM lock yourself up in a room • Take breaks. Short (10-15 minute) alone and take out your worry list. periods of meditation, stretching or Worry about everything on your list self hypnosis have been proven to for that full hour. So, you haven’t minimize mental fatigue, re-direct missed your self-made opportunity thinking to positive vision, and (choice) to worry, but you did it prompt productive, feelings of well under your conditions, and wasted a lot less time. being and energy. that will contribute most to pain and suffering. Do what’s right. Stay active. Cutting back on simple carbs allows the brain greater clarity. Good sleep patterns promote a healthier brain and better transmission of neurotransmitters (especially dopamine, serotonin and oxytocin -- happy! happy! happy!).
• Do something nice for at least one someone each day. Go out of your way to make some else’s life a little better. Get out of your own head, just a little. Pass it forward.
If this idea seems silly, it is...and it’s not. (You might be surprised at how many people with whom I’ve shared this thought, took it seriously and found great benefit.) Value yourself and those around you by not sweating Worry is not caused by external events so much of the small stuff... And as or situations, but by how we perceive the wise man said, “It’s ALL small those events or situations. But for stuff.” those self sabotaging warriors who are reluctant to give up worrier ways, Copyright©, 2015 Barry Eisen. All here is a great idea: rights reserved. Barry Eisen teaches personal development seminars and coaches Southern California top producing REALTORS®. “Your business will never grow more than you do” is the theme; self hypnosis and behavior modification are the tools for playing a bigger game. barryeisen.com, barryeisen@LA.twcbc.com 818-769-4300 Top Agent Magazine
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By Bubba Mills
Communicate your way to higher sales with DISC? Today’s article is all about communication. Let me start with a story: A woman was standing in front of the mirror and said to her husband: “Oh my love, I’m so fat and so ugly. I really need to hear a nice compliment.” Her husband replied: “You have great vision.” Oh the trouble we can get into when our lips flap. Any married person can attest. Probably many REALTORS®, too. Because real estate is a people business, communication is the industry’s bedrock. And I can say this next sentence with certainty: Top producers in real estate are expert communicators. Top Agent Magazine
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If you want to join their ranks, you should jump at every opportunity to improve your communication skills. This article can help, and to get the most from the article I only need you to remember four letters and their meaning: DISC. DISC is a tool you can use to quickly assess a person’s dominant personality. It’s based on work by psychologist William Martson. Generally speaking, it turns out there are four primary types of personality styles out there: Directors, Interactors, Supporters and Compliants. The next time you’re giving a listing presentation, you’ll be talking to one of those four types of people. And when you understand which one you’re talking to you can be much more effective and more likely to get the result you want. So, let’s dive into each and learn some practical tips you can start using in your daily life as a REALTOR®: Directors are direct. They want to make money, save time and be efficient. When you talk to directors, be short and to the point with closed questions. They seek productivity and the bottom line. They’re motivated by new challenges and problems to solve. They enjoy power and authority to take risks and make decisions. And they want freedom from routine and mundane tasks. Interactors want, you guessed, interaction. Lots of it. They want to have fun and they enjoy talking about themselves. When you’re talking to interactors, add humor and don’t labor on the details. They seek recognition and fun. They’re motivated by flattery, praise, popularity and acceptance, and they want other people available to handle details. Supporters are connectors. They want security, safety and a strong sense of belonging. When talking to supporters ask for their opinions and feelings and offer open-ended questions. They’re motivated by recognition for loyalty and dependability 26
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and they don’t care for sudden changes in procedure or lifestyle. They also like activities they can start and finish. Compliants are thinkers. They’re always wondering how things work. They want practicality, logic, fairness and a systematic approach. When talking to thinkers give facts, documentation and data. They seek accuracy. They’re motivated by standards of high quality, limited social interaction, detailed tasks and logical organization of information. Some personality assessment tools can cost thousands of dollars, but at Corcoran Coaching, we’ve opted for a much more affordable offering: a free DISC assessment. Just visit www.corcorancoaching.com/behavioralstyle. php and you’ll be guided through a quick questionnaire to learn your own dominant style and how to read others as well. Yes, understanding people, listening to their needs and wants and responding appropriately all take work and attention. But because real estate is a people business, it’s simply a must. And the better at it you become, the better living you’ll make as an agent or broker. I promise. Best of luck to you! Copyright©, 2016 Bubba Mills. All rights reserved.
Bubba Mills is the CEO of Corcoran Consulting and Coaching Inc. (www.corcorancoaching.com/programs, 800-957-8353), an international consulting and coaching company that specializes in performance coaching and the implementation of sound business systems into Real Estate Companies, Mortgage Companies and Small Businesses. Bubba Mills is a nationally recognized inspirational and education speaker, coach and mentor to the top real estate agents and mortgage companies. To find out more about Corcoran Consulting & Coaching, call 1-800-957-8353 or visit us at www.CorcoranCoaching.com. Top Agent Magazine
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Living Living On On Commission Commission bybyLinda LindaBrakeall Brakeall
Commissioned Commissionedsales salesisisone oneofofthe the few few places places where where you you get get paid paid exactly exactlywhat whatyou’re you’reworth. worth.One Oneofof my myfriends friendsreally reallyhates hatesthat thatconcept. concept. “I“Icould couldnever neverlive liveononthat!” that!”But But loan loanofficers officershave havetotododoititallallthe the time. time. The Themost mostsuccessful successfulpeople peopleI Iknow know love love being being onon commission! commission! They They love lovebeing beingable abletotogive givethemselves themselvesa a raise raisejust justbybyworking workingharder. harder.Most Most people people need need a a little little help help learning learning how howtotobudget, budget,and andhow howtotoput putaway away money moneyfor fortaxes taxesand andinfrequent infrequentbut but important importantexpenses. expenses.
and andmaybe maybea athird thirdwill willgogodirectly directlytoto the the government government for for taxes. taxes. You You should shouldbebeputting puttingatatleast least10% 10%away away for forsavings savingsand andinvestment investmentand and5% 5% for forsurprises surprisesisisnot notunrealistic. unrealistic. When WhenI Itook tookover overa alarge largereal realestate estate office officea afew fewyears yearsago agoI Ifound foundout out ®® that thatone oneofofmy mynew newREALTORS REALTORS was was going going through through bankruptcy bankruptcy proceedings. proceedings.I Iknew knewshe shea asold solda alot lot ofofreal realestate estateand andI Icouldn’t couldn’tfigure figure out outhow howshe shegot gotininthat thatsituation. situation. One Oneevening eveningover overcoffee coffeeshe shetold toldme me about aboutbeing beinga arookie rookiewith withanother another company. company.She Shefell fellinto intoa aland landdeal deal and andmade madethe thesingle singlelargest largestsale saleher her company companyhad hadever evermade. made.
So Sohere’s here’sthe therule: rule:Never Neverplan plantoto spend spend more more than than half half ofof any any Within six six months months she paycheck. paycheck.You Youcan canhave haveallallkinds kindsofof Within she received received a a fancy fancy formulas formulas but but that’s that’s it.it. You You huge hugesix-figure six-figurecommission. commission.With With inin have havetotoassume assumethat thatatatleast leasta aquarter quarter two twoyears yearsshe shewas wasinindebt debtover overher her 28
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Commissioned sales is one Commissioned one of of the the few few places where where you you get paid exactly places exactly what what you’re worth. worth. you’re head.The Theproblem? problem? She She spent spent itit all! all! head. Shestarted started borrowing borrowing trying trying to to pay pay She hertaxes. taxes.She Shewas wasso sostressed stressed out out over over her thetax tax situation situation that that she she didn’t didn’t sell sell the anymore morereal realestate estatefor for the the next next year. year. any
® REALTORS REALTORS® or or other othercommissioned commissioned sales sales people. people. A A little little planning planning inin advance advance for for regular regular and and predictable predictable expenses expenses and and aa slush slush fund fund for for sur sur- prises prises and and you’ll you’ll be becovered! covered!
Don’t let let that that happen happen to to you. you. Don’t officers aren’t that different officers aren’t that different
Copyright© 2014, Linda Brakeall. All Copyright© 2014, Linda Brakeall. All rights reserved. rights reserved.
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